South Dakota Statutes

§ 54-8A-1 — Definitions.

South Dakota·Title 54 DEBTOR AND CREDITOR·Ch. 54-8A UNIFORM FRAUDULENT TRANSFER ACT

Terms used in this chapter mean:

(1)"Affiliate," (i) Any person who directly or indirectly owns, controls, or holds with power to vote, twenty percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities:
(A)As a fiduciary or agent without sole discretionary power to vote the securities; or (B) Solely to secure a debt, if the person has not exercised the power to vote;
(ii)Any corporation twenty percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds, with power to vote, twenty percent or more of the outstanding voting securities of the debtor, other than a person who hold

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Related

Prairie Lakes Health Care System, Inc. v. Wookey
1998 SD 99 (South Dakota Supreme Court, 1998)
37 case citations
State v. Warren
462 N.W.2d 195 (South Dakota Supreme Court, 1990)
3 case citations
Karras v. Karras
846 F. Supp. 804 (D. South Dakota, 1993)
2 case citations
Allred v. Nickeson
(D. South Dakota, 2014)
Prairie Lakes Health Care Systems
1998 SD 99 (South Dakota Supreme Court, 1998)

Legislative History

SL 1987, ch 365, § 1; SL 1994, ch 351, § 152.

Nearby Sections

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